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Dec 10, 2012
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. trust us on this including the fiscal cliff. >>> well, driving a hard bargain, president obama heads to the motor city and in the middle of a union fight. i have a former governor of michigan here. plus, we'll talk fiscal cliff and debt ceiling with him. plus, one hatch of simpson-bowles. the erskine bowles half. the less dancing of the duo. why former chief of staff is growing more optimistic we'll be able to get a deal before the cliff dive. by the way, will he take a job in president obama's cabinet? i'll have that answer straight ahead. first, a look ahead at the president's schedule today. you can see it's michigan with the lunch time remarks. back to the white house before 5:00. [ male announcer ] when ziggy the cat appeared at their door, he opened up jake's very private world. at first, jake's family thought they saved ziggy, but his connection with jake has been a lifesaver. for a love this strong, his family only feeds him iams. compared to other leading brands, it has 50% more animal protein... ...to help keep ziggy's body as strong as a love that reaches further than anyone's words. iams. keep love strong. ♪ don't know what i'd do ♪ i'd have nothing to prove ♪ i'd have nothing to lose [ male announcer ] zal
. trust us on this including the fiscal cliff. >>> well, driving a hard bargain, president obama heads to the motor city and in the middle of a union fight. i have a former governor of michigan here. plus, we'll talk fiscal cliff and debt ceiling with him. plus, one hatch of simpson-bowles. the erskine bowles half. the less dancing of the duo. why former chief of staff is growing more optimistic we'll be able to get a deal before the cliff dive. by the way, will he take a job in...
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Dec 10, 2012
12/12
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FBC
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say it would be okay to raise taxes on high income people, if we raise taxes for the fiscal cliff or for debt ceiling, do you believe the will also raise taxes on middle class. 60% percent of americans understand that once the politicians get the bloodlust out there, once they smell the blood in the water, once they raise taxes on the few, they go after the many. melissa: oh, i absolutely believe that's right but i think that the point is the republicans are losing momentum on the side of not raising taxes. that it is starting to feel more and more like there must be some concession, there must be some caving to get through the fiscal cliff. when you look at senators who have said they're going back on the pledge, lindsey graham, bob corker, tom coburn, lamar alexander, eric cantor, what do you do at this point to keep the fight going? or do you think that it is necessary to concede a little bit of ground? >> well, two things. the senators, the republican senators to a certain extent don't matter because the democratic senate can pass a tax increase if they want the senaaors you mentioned would only
say it would be okay to raise taxes on high income people, if we raise taxes for the fiscal cliff or for debt ceiling, do you believe the will also raise taxes on middle class. 60% percent of americans understand that once the politicians get the bloodlust out there, once they smell the blood in the water, once they raise taxes on the few, they go after the many. melissa: oh, i absolutely believe that's right but i think that the point is the republicans are losing momentum on the side of not...
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Dec 10, 2012
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cliff is going to be resolved. auto sales have met the challenges of the debt crisis of high gas prices and now the fiscal cliff with the american consumer on a durable good saying, you know, we think at the end of the day they are going to do the right thing and this is going to get resolved. >> what are you saying out there? what are the hottest brands, luxury to economy brands? what are you selling most and what's hot? >> i think that most important development in the marketplace is the embracing of fuel economy by the american consumer in an unprecedented way. what's interesting is it's not hybrids and electronics they are impressing, here's the impression. you can have the same size vehicle with the same speed but a 25 to 30% improvement in fuel efficiency with traditional technologies that you get your money back in two to three years. that's a winning proposition to the american consumer. >> most auto companies market to men and yet women are making the lion's share of financial decisions. how come the auto sector isn't marketing to women? is your industry behind the times
cliff is going to be resolved. auto sales have met the challenges of the debt crisis of high gas prices and now the fiscal cliff with the american consumer on a durable good saying, you know, we think at the end of the day they are going to do the right thing and this is going to get resolved. >> what are you saying out there? what are the hottest brands, luxury to economy brands? what are you selling most and what's hot? >> i think that most important development in the...
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Dec 10, 2012
12/12
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reducing the deficit and the debt and the current issue is the fiscal cliff. that would be the worst fiscal policy put in place since the great depression when we put an austerity policy in place to send and through the country back into recession. the idea that we have got into a debate as to how to reduce the deficit is wrong. we say don't reduce the deficit now this fast. that is what the fiscal cliff is all about and that's why ben bernanke cannot put the phrase. guest: as exactly right, we have two very different problems. the only reason we're talking about the second issue is politics. this is the politics of the moment tromping economic common sense which is a dangerous combination. guest: the fiscal solution is a fig leaf to allow members of congress to say we're going to spend so the spending cuts and tax increases and let the deficit be $500 billion higher. host: the debt is at $16.30 trillion and has increased $4 trillion over the last four years. the present and congress will say that over the next 10 years, we will get it back to where was in 2009, correct? guest: that
reducing the deficit and the debt and the current issue is the fiscal cliff. that would be the worst fiscal policy put in place since the great depression when we put an austerity policy in place to send and through the country back into recession. the idea that we have got into a debate as to how to reduce the deficit is wrong. we say don't reduce the deficit now this fast. that is what the fiscal cliff is all about and that's why ben bernanke cannot put the phrase. guest: as exactly right,...
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Dec 10, 2012
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lagarde said lawmakers need to address the country's debt, the deficit, and the fiscal cliff and quickly to avoid the uncertainty from affecting the global economy. she suggested a balanced approach, increasing revenue, while also cutting spending. >>> a new survey shows pay for private college prnts continues to climb. they studied data from 2010. it shows medial compensation rose to about $400,000, up nearly 3%. >>> and james bond's fought his way back to the top of the box office. "skyfall" made $11 million. "rise of the guardian" finished a close second with $10.5 million, and in third place, "twilight saga:breaking dawn" part twoer and $9.2 million. i've got to go see that animated christmas film. >> you and jack, that would be a good thing to do. >> "skyfall" kind of going nowhere and then jump back on top, that's kind of a strange move. >> that's james bond. that's no surprise. >> ashley morrison in new york. thanks, ashley. >>> hundreds said their "i dos" sunday. about 150 same-sex couples exchanged vows at seattle city hall. officiating judges who donated their time help
lagarde said lawmakers need to address the country's debt, the deficit, and the fiscal cliff and quickly to avoid the uncertainty from affecting the global economy. she suggested a balanced approach, increasing revenue, while also cutting spending. >>> a new survey shows pay for private college prnts continues to climb. they studied data from 2010. it shows medial compensation rose to about $400,000, up nearly 3%. >>> and james bond's fought his way back to the top of the box...
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Dec 10, 2012
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entitlements. >> when the two sides are beyond the fiscal cliff deadline they have to raise the debt ceiling which can be used as leverage. >>shepard: doctors had given up on saving a little girl with leukemia and now she is alive and her cancer is in complete remission. how did they do it? there is an experimental therapy that saved her. and they tell us it could revolutionize cancer treatment. it has to do with one virus called hiv. >>shepard: doctors say cancer already killed a since-year-old girl until they triad very different kind of treatment. they gave her a disabled form of h.i.v., the virus that causes aids and now the girl has been cancer free for seven months. researchers say this could fundamentally change the way we treat the crippling cancer of leukemia. a doctor who helped develop this treatment is director of blood and transplant at a center in philadelphia. h.i.v....what does this do? >>guest: if you think about it, one of the ways that h.i.v. works is by getting into cells, into immune cells. it is good at getting any cells but the virus makes them sick and kills the immun
entitlements. >> when the two sides are beyond the fiscal cliff deadline they have to raise the debt ceiling which can be used as leverage. >>shepard: doctors had given up on saving a little girl with leukemia and now she is alive and her cancer is in complete remission. how did they do it? there is an experimental therapy that saved her. and they tell us it could revolutionize cancer treatment. it has to do with one virus called hiv. >>shepard: doctors say cancer already...
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Dec 10, 2012
12/12
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should do if we go over the fiscal cliff. but where do you invest if there is a debt deal? some smart strategies with your stock picks coming up. one area of those fiscal cliff negotiations that is getting very little attention but could have a major ramification for you and your kids is the estate tax. we will drill down on the future of the inheritance tax. and the other side of google, the internet giant slashing bills -- stashes, i should say, billions in tax shelters to avoid paying taxes. is that fair play or is it absolutely outrageous? we'll talk about that at 1:00 p.m. eastern time. now back to scott and the fast money "halftime report." >> over the weekend johnny manziel made history as the first freshman to win the heisman trophy and with a great nickname to go along with his great story it would seem as though the sky is the limit for the kid they call johnny football. our brian shactman is live in new york city with the texas a&m qb. brian? >> they call him johnny heisman now, too. only the fifth player ever in college football to throw for more than 3,000 yards and
should do if we go over the fiscal cliff. but where do you invest if there is a debt deal? some smart strategies with your stock picks coming up. one area of those fiscal cliff negotiations that is getting very little attention but could have a major ramification for you and your kids is the estate tax. we will drill down on the future of the inheritance tax. and the other side of google, the internet giant slashing bills -- stashes, i should say, billions in tax shelters to avoid paying...
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Dec 10, 2012
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those tax cuts expire, and we go off the so-called fiscal cliff. >> reality track says one in three homes sold short. right now you don't owe taxes on the forgiven debt. on the other side of the fiscal cliff you do. it gives homeowners a tax break on unpaid mortgage debt and expires on december 31st unless congress acts. >> the average amount that homeowners are short in a short sale is $95,000. if this tax break goes away as part of the so-called fiscal cliff, those homeowners could be taxed on that $95,000 as additional income starting in 2013. >> how much homeowners will owe in taxes on that amount depending on the tax bracket they're in. on average it would be between 20 to $25,000. the banks have an extra incentive to stel short and absorb the loss. under the national mortgage settlement act that went into effect earlier this year, the nation's biggest lenders get a credit for short sales as a form of foreclosure relief. foreclosures sell for $3700 less than homes via short sale. as we near the fiscal cliff you could expect short sales jump more as homeowners look it to aavoid gigt hit with tacks and bankss with foreclosed prormts. if we go over the
those tax cuts expire, and we go off the so-called fiscal cliff. >> reality track says one in three homes sold short. right now you don't owe taxes on the forgiven debt. on the other side of the fiscal cliff you do. it gives homeowners a tax break on unpaid mortgage debt and expires on december 31st unless congress acts. >> the average amount that homeowners are short in a short sale is $95,000. if this tax break goes away as part of the so-called fiscal cliff, those homeowners...
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Dec 10, 2012
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about the fiscal cliff and the meeting between president obama and john boehner -- >> the president is trying to do two things. he is trying to both reopen negotiations, direct negotiations between him and the house speaker, the deal be struck between them. at the same time he is going to michigan tomorrow, where he will make the same case to autoworkers, the same types of middle-class people who helped him get elected in the industrial midwest. >> democrats are seen to have the most leverage in negotiations. it seems the options for republicans are narrowing. >> president obama has said he will not make a deal without an increase in the tax rates on people who make more than $250,000, which is something that republicans refuse to do. they want -- do not want to raise tax rates on anyone. as senator corker of tennessee said -- president obama holds the cards. >> what do you think his opinion represents? is this just one senate republican, or does this show kind of a shift in attitude among republicans? >> it certainly shows -- a number of republicans are looking to make a deal with
about the fiscal cliff and the meeting between president obama and john boehner -- >> the president is trying to do two things. he is trying to both reopen negotiations, direct negotiations between him and the house speaker, the deal be struck between them. at the same time he is going to michigan tomorrow, where he will make the same case to autoworkers, the same types of middle-class people who helped him get elected in the industrial midwest. >> democrats are seen to have the...
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debate about taxes, spending and the fiscal cliff. republicans want a melt on xwiemtment and tax reform from the president. democrats insist this will not happen until the gop agrees on a tax hike. senator dick durbin saying no deal on the debt without a tax hike of the wealthy. >> i can't tell you, i don't want to do it, the president doesn't want to do it, but we need to solve the problem been we cannot allow the reckless position to drive this economy into another recession. >> some suggesting that it might be better to cave to the president now on taxes and keep up the fight on spending. >> if we were to pass, for instance, raising the top two rate and that's it, all of a sudden we do have the leverage of the debt ceiling and we haven't given that up. >> meantime, one influential voice says enough is enough. >> that's like betting your country. there's something terribly bizarre and juvenile about that is to think your party comes ahead of your country. i don't go for that at all. >> that, of course, was alan simpson, the other half of simpso simpson-bowles. erskin bowles will join us this morning, as well. if you have the democrats quoting him, the republicans quoting him, we'll very where he comes down and where things stand r
debate about taxes, spending and the fiscal cliff. republicans want a melt on xwiemtment and tax reform from the president. democrats insist this will not happen until the gop agrees on a tax hike. senator dick durbin saying no deal on the debt without a tax hike of the wealthy. >> i can't tell you, i don't want to do it, the president doesn't want to do it, but we need to solve the problem been we cannot allow the reckless position to drive this economy into another recession. >>...
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passed the fiscal cliff, president obama will have to meet again with boehner to discuss the debt ceiling. >>> steven baldwin was arrested and when he was released he wanted to come on this show and explain himself. that's next. how do you get fr. to here? at university of phoenix we're moving career planning forward so you can start figuring that out sooner. ln fact, by thinking about where want your education to lead, while you're still in school, you might find the best route... leads somewhere you weren't even looking. let's get to work. military families face, we understand. at usaa, we know military life is different. we've been there. that's why every bit of financial advice we offer is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] ♪ [ male announcer ] life brings obstacles. usaa brings advice. call or visit us online. we're ready to help. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ♪ ...could end with adding a close friend. ♪ the lexus december to remember sales event
passed the fiscal cliff, president obama will have to meet again with boehner to discuss the debt ceiling. >>> steven baldwin was arrested and when he was released he wanted to come on this show and explain himself. that's next. how do you get fr. to here? at university of phoenix we're moving career planning forward so you can start figuring that out sooner. ln fact, by thinking about where want your education to lead, while you're still in school, you might find the best route......
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Dec 10, 2012
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rapid fire. as soon as we get passed the fiscal cliff, president obama will have to meet again with boehner to discuss the debt ceiling. >>> steven baldwin was arrested and when he was released he wanted to come on this show and explain himself. that's next. reas are reporting reas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. customer erin swenson bought so, i'm happy. today. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she can get a text alert, reroute... even reschedule her package. it's ups my choice. are you happy? i'm happy. i'm happy. i'm happy. i'm happy. i'm happy. happy. happy. happy. happy. (together) happy. i love logistics. with odor free aspercreme. powerful medicine relieves pain fast, with no odor. so all you notice is relief. aspercreme. >>> stephen baldwin was arrested in new york this weekend, and it's said for not payi
rapid fire. as soon as we get passed the fiscal cliff, president obama will have to meet again with boehner to discuss the debt ceiling. >>> steven baldwin was arrested and when he was released he wanted to come on this show and explain himself. that's next. reas are reporting reas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations...
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cliff, president obama will have to meet again with boehner to discuss the debt ceiling. >> thank you, ana, thank you, lz. >>> steven baldwin was arrested and when he was released he wanted to come on this show and explain himself. that's next. >>> stephen baldwin was arrested this week in new york. the district attorney says he owes more than $350,000 for not paying his state taxes for three years. he pleaded not guilty. baldwin said he paid $100,000 already to new york state. earlier he told me he knew all this was coming. >> i've been in a conversation about this very thing for several months now. and, again, i'm not trying to be funny when i say this. i'm grateful these guys are givi me a chance to work it out. it's a tough situation because it wasn't me specifically, as you know, don, you have people do your taxes for you, et cetera, et cetera. it wasn't handled appropriately. i am ultimately responsible but i am in a conversation and we are communicating with them and what i'm told is that we're going to be able to work it out. i'm hoping that's the end result. >> but for yo
cliff, president obama will have to meet again with boehner to discuss the debt ceiling. >> thank you, ana, thank you, lz. >>> steven baldwin was arrested and when he was released he wanted to come on this show and explain himself. that's next. >>> stephen baldwin was arrested this week in new york. the district attorney says he owes more than $350,000 for not paying his state taxes for three years. he pleaded not guilty. baldwin said he paid $100,000 already to new...
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the fiscal cliff. the combined things related to the issues. it is all at cspan.or g/fiscalcliff we will have a discussion about change and how u.s. debt, economic growth, and retirement of baby boomers could lead to political and economic change. >> the house returns tomorrow. members will be coming in to consider defense department programs for next year. we will have live coverage of the house tomorrow at 2:00 eastern right here on c-span. >> i think people still love discovery. the ability to find surprises. every month or every year, people are suddenly talking about some show. you could've said to me, mike, i want you to choose honey boo boo, or a certain food channel network. i do not think if i had to determine that, i ever would -- at the ability to stumble on them, and then double around and that and find, i sort of like honey boo boo, that is a huge part of the american television experience. i think it is sold short when its techno ecstatic. i think a lot of americans love the enjoyment of escapism and passivity and being able to roam around the tv jungle, finding things it did not know were there. >> ncta head michael powell on the
the fiscal cliff. the combined things related to the issues. it is all at cspan.or g/fiscalcliff we will have a discussion about change and how u.s. debt, economic growth, and retirement of baby boomers could lead to political and economic change. >> the house returns tomorrow. members will be coming in to consider defense department programs for next year. we will have live coverage of the house tomorrow at 2:00 eastern right here on c-span. >> i think people still love discovery....
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Dec 10, 2012
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of finding a deal on the fiscal cliff. this morning a leading republican said any deal should include the major drivers of our debt. >> the long-term indebtedness of this country is baby boomers retiring putting pressure on medicaid, medicare and social security. i hope my party will look out for the country and not just the party itself and pure this president to do something he has never done before, lead in a bipartisan way. >> reporter: a little swipe there at the end but republicans have been consistent that it is important to address entitlement reform, something they very much want on the table if we're going to have a big deal in this fiscal cliff matter. jon? jon: on the democratic side it seems like they are holding firm on being sure that there is additional tax revenue in any fiscal cliff deal, right? >> jon, no question about that. they have been consistent from the very beginning. the president ran on the upper income americans paying more taxes as part of this deal. we heard more from chuck schumer on "fox news sunday". >> we democrats realize that there have to be two sides to this bargain but we're not go
of finding a deal on the fiscal cliff. this morning a leading republican said any deal should include the major drivers of our debt. >> the long-term indebtedness of this country is baby boomers retiring putting pressure on medicaid, medicare and social security. i hope my party will look out for the country and not just the party itself and pure this president to do something he has never done before, lead in a bipartisan way. >> reporter: a little swipe there at the end but...
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here with the fiscal cliff possibly approaching. tomorrow we did have the start of a two-day fed meeting, expected to possibly look at more economic stimulus. market diet, dow and nasdaq positive, s&p lower only by a -- fraction. bloomberg trading up a of a percent. skinny suits may be turning fat profits, jobs picture improves, retailers generating 25 to 30% of its business from the suits. if you are expecting a holiday gift from your employer don't get your hopes up. advertising specialty institute says the average gift will be worth about $42. gift cards and cash are most popular. live at the tphaepblg, i'm jane king. -- >>> nobody is getting that starbucks card $400 card. >>> good morning. here's a look at live doppler, keep the umbrella away you need sunglasses maybe short sleeves during the afternoon, temperatures near records in a few areas, still concerns, fairfield and santa rosa 3/4 mile visibility because of the fog. you can see winds gusting fast around oakland light in our valleys you are much cooler there in the 30s and 40s oakland because of that breeze is keeping
here with the fiscal cliff possibly approaching. tomorrow we did have the start of a two-day fed meeting, expected to possibly look at more economic stimulus. market diet, dow and nasdaq positive, s&p lower only by a -- fraction. bloomberg trading up a of a percent. skinny suits may be turning fat profits, jobs picture improves, retailers generating 25 to 30% of its business from the suits. if you are expecting a holiday gift from your employer don't get your hopes up. advertising...
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Dec 10, 2012
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statement. >> let's talk about the fiscal cliff. also on the radar this morning, after president obama and house speaker john boehner both were tight-lipped how the negotiations went. the co-founder of the fix the debt campaign, he was asked about the chances of striking a deal to avoid the cliff. >> it's probably more like a 40% chance we'll actually get it done before the end of the year. probably 25% chance we'll get it done right after the end of the year. and then there's that horrible 35% chance that we'll still go over the cliff and have pure chaos. but i think the chances of getting it done now are better. i think that's what's key. >> be sure to tune in tomorrow for the fiscal cliff coverage live from washington. mission critical, rise above d.c., all day long. becky quick, jim cramer, maria bartiromo holding their feet to the fire about where they stand on the fiscal cliff and how they'll do their part to rise above partisan politics and reach a deal. now, there are some bowles comments. 40%, yeah, but the odds are much better. they're still 35% chance it will not happen. it's not exactly confidence building. >> not necessarily confidence building. always interesting to me how people can put percen
statement. >> let's talk about the fiscal cliff. also on the radar this morning, after president obama and house speaker john boehner both were tight-lipped how the negotiations went. the co-founder of the fix the debt campaign, he was asked about the chances of striking a deal to avoid the cliff. >> it's probably more like a 40% chance we'll actually get it done before the end of the year. probably 25% chance we'll get it done right after the end of the year. and then there's that...
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Dec 10, 2012
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get past this first agreement and we avoid the fiscal cliff, we get into next year, there will be a debt limit fight, that might be less intense if they can get through this one. and the republicans will come up with a new way to talk about big spending cuts in return for some entithe entitlement changes. >> ben, thank you for stopping by. >> thank you. >> this morning, i was thinking to myself, self, if we get a deal, what would the market reaction be to a deal? >> that isn't -- >> because you can really make the case for either way, a selloff or a rally. >> i think the way the market sets up right now, the fact that we continue to sort of push towards this 14 and a quarter level leads me to believe that people are believing there's a deal that's some what imminent and we're going to rachet our way up. but my push-back would be, i mean, a deal, it's not buy their. my sense is, u.s. going forward, whatever deal is made there are going to be serious cuts to serious things. though a deal -- a deal that comes out in terms of the media, it's going to be positive for the market. the aftermath, it w
get past this first agreement and we avoid the fiscal cliff, we get into next year, there will be a debt limit fight, that might be less intense if they can get through this one. and the republicans will come up with a new way to talk about big spending cuts in return for some entithe entitlement changes. >> ben, thank you for stopping by. >> thank you. >> this morning, i was thinking to myself, self, if we get a deal, what would the market reaction be to a deal? >>...
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MSNBC
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cliff and then run into the debt limit in february. that would be a puriic victory. >> vus not goiit's just not goi happen. tell me, because you know these numbers better than anybody, other than people sitting in the white house that have looked at the very latest, but it seems like 37%. we're starting to hear that more, and both sides may coalesce around that eventually. let's say we change the rates to 35% and 37% and you eliminate deductions, not the home mortgage because we're not going to get that. we're probably not going to get charitable. can you say $1.2 trillion if that's where we compromise and new revenues. >> capital gains, dividends, estate. >> if you're more aggressive. >> about half theway. >> let's say you aggressively go on capital gains, dif evidends >> you start to get close. >> david ig nanatiuignatius, ar to have a deal? you know washington. >> my guess is we are going to have a deal just because the stars have now been in alignment. i've been struck by the way president obama has taken lead of his own party and himself been the negotiator, put all the ac
cliff and then run into the debt limit in february. that would be a puriic victory. >> vus not goiit's just not goi happen. tell me, because you know these numbers better than anybody, other than people sitting in the white house that have looked at the very latest, but it seems like 37%. we're starting to hear that more, and both sides may coalesce around that eventually. let's say we change the rates to 35% and 37% and you eliminate deductions, not the home mortgage because we're not...
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could be part of a deal to avoid the fiscal cliff. one man of the tax policy center says given our national debt? sort of tax hikes are inevitable. >> one way is to tax the same income we have right now but get more revenue. the alternative is to tax more. get rid of the deductions and the exemptions, the things that reduce or taxable income. we tax more at today's rates and we bring in more revenue. >> reporter: itemized deductions are the first form of tax breaks on the table. used by 30% of tax payers they cost the government over $200 billion a year. about a fifth of this year's deficit. charitable donations alone cost $40 billion a year. but ending them is costly too. >> anybody who gives money away, taxes will go up. they'll pay more. that's what we're all about trying to get rid of these. but at the same time they'll likely give less to charity. if i don't get the deduction, it's going to cost me more after taxes to give away money. >> reporter: and say nonprofit leaders, if the rich stop giving, the poor stop getting. >> we're here to urge congress to protect a 100-year-old tradition. >> repor
could be part of a deal to avoid the fiscal cliff. one man of the tax policy center says given our national debt? sort of tax hikes are inevitable. >> one way is to tax the same income we have right now but get more revenue. the alternative is to tax more. get rid of the deductions and the exemptions, the things that reduce or taxable income. we tax more at today's rates and we bring in more revenue. >> reporter: itemized deductions are the first form of tax breaks on the table....
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are spending differently this holiday season because of the fiscal cliff and other economic concerns. >> i am more practical. >> i'm trying to save more and less.uy >> many retailers are offering new discounts leading up to the holidays. >> the search continues for the person who shot an off-duty baltimore county police officer. it happened early on sunday morning in overlea. kim dacey has the details. >> police say there was a party going on. there was a call that someone was shot, not knowing it was one of their own. >> i heard the gunshots school first and we look outside and saw a big group of people. >> all of the commotion was centered down the street in overlea. an off-duty baltimore county police officer had been shot twice while sitting in his car. he happens be driving down the street when he came across a large group of people in the road. >> a subject came out of the crowd with a handgun and fired several times into the vehicle. >> the officer was flown to shock trauma where he was treated and released. >> investigators believe they had no idea he was a police officer. th
are spending differently this holiday season because of the fiscal cliff and other economic concerns. >> i am more practical. >> i'm trying to save more and less.uy >> many retailers are offering new discounts leading up to the holidays. >> the search continues for the person who shot an off-duty baltimore county police officer. it happened early on sunday morning in overlea. kim dacey has the details. >> police say there was a party going on. there was a call...
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can find a way to avoid the initial effects of the fiscal cliff. but in february or march you have to raise the debt ceiling. i can tell you this, there is a hardening on the republican side. we're not going to raise the debt ceiling. we're not going to let obama borrow anymore money or any american congress borrow anymore money until with fix this country from becoming greece. that requires significant entitlement reform to save social from bankruptcy and medicare from bankruptcy. social security is going bankrupt in about 20, 25 years. medicare is going bankrupt in 15 or 20 years. the baby boomers are coming in at 10,000 a day. and we just can't scene this. martha: president last week said we'll not play that game. last time around they wouldn't let the debt ceiling go up, i tell you right now, something to this effect we will play that game. >> we will play that game, mr. president. that is not a game. the game you're play something small ball. you're talking about raising rates on top 2% that would run the government for 11 days. you got reelected. how about doing something big that is not liberal? how
can find a way to avoid the initial effects of the fiscal cliff. but in february or march you have to raise the debt ceiling. i can tell you this, there is a hardening on the republican side. we're not going to raise the debt ceiling. we're not going to let obama borrow anymore money or any american congress borrow anymore money until with fix this country from becoming greece. that requires significant entitlement reform to save social from bankruptcy and medicare from bankruptcy. social...
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Dec 10, 2012
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as part of the fiscal cliff. what should the transition to the fiscal cliff here? are you sleeping nights thinking about all this? or how are you viewing what's going on in washington right now? >> people ask me what keeps me awake at night. i said nothing is important to keep me awake at night. that doesn't really advance the ball, one might say. you know, i can see the outlines of the fiscal cliff being avoided right now. reading a little bit behind the scenes. all i'm doing is paying attention to what's going on out there. i don't have the inside information or anything. but it has to be done. it has to be fixed. and i assume it will be. and i often quote churchill. maybe even on your show once, bill. that said americans always do the right thing but only after they've tried everything else. so we've tried everything else. that leaves us for the right thing which is some tax increases and some cuts in long-term benefits, medicare, social security, and so on. >> in which case and i hate saying this because it obviously shoots ourselves in the foot. are you advocating turn off the
as part of the fiscal cliff. what should the transition to the fiscal cliff here? are you sleeping nights thinking about all this? or how are you viewing what's going on in washington right now? >> people ask me what keeps me awake at night. i said nothing is important to keep me awake at night. that doesn't really advance the ball, one might say. you know, i can see the outlines of the fiscal cliff being avoided right now. reading a little bit behind the scenes. all i'm doing is paying...
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fiscal cliff. you and the lemmings. >> if republicans accept tax debts, that will be worse than obama's re-election. spiraling of this sort of drone suicide. >> stephanie: somebody building a thesaurus for apocalyptic -- >> back to bill crystal saying the world is unraveling on obama's watch. here it is. election day was mass suicide. this is such a tiny fraction of the population. views politics and obama -- that way now. the only weird part is they've got cameras pointed at them that's on television. they've got a platform. so they -- you know, again they're such a radical minority. this notion that everyone, you know, thinks obama's re-election was a disaster. or was a suicide. >> trying to put on the black -- and cut off your junk. >> wow. that's a 1996 reference. [ laughter ] >> stephanie: but it is true. if the parallel universe continues. in the real world, we had a great new employment reporter on friday and monica crowley's world, it is just, you know, death and destruction. and dogs and cats living together. all right. sean hannity. >> boehner and company need to do ar
fiscal cliff. you and the lemmings. >> if republicans accept tax debts, that will be worse than obama's re-election. spiraling of this sort of drone suicide. >> stephanie: somebody building a thesaurus for apocalyptic -- >> back to bill crystal saying the world is unraveling on obama's watch. here it is. election day was mass suicide. this is such a tiny fraction of the population. views politics and obama -- that way now. the only weird part is they've got cameras pointed at...
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concerned that we are going over the fiscal cliff. he says, president obama seemingly is intent on pressing his post-election advatage to win tax increases on the wealthy and to eliminate the houses debt ceilg leveraged. joining us now from washington d.c., peter wallace, former reagan white house counsel, former memer of the financial crisis inquiry commission. a senior fellow at the american enterprise institute. good to have you here. you believe they're going over the cliff. >> i think their is a real danger of this. one can see a path for obaaa that does not look so terrible if we do go over the cliff. all of the taxes go up, but the democrats have an opportunity to introduce legislation to reduce the taxes for 98 percent of the people leaving the wealthier people, i guess you could call them wealthy, the top two percentage to stay at the high rates. it is possible to do this. lou: it is possible, but i have to ask you, surey the republicans have to understand and had to understand six months ago what what transpired in this lame ducksession of congrs? what this president would press forward to. the fiscal cliff, the result of sequestration and agreements between the two parts, capitol
concerned that we are going over the fiscal cliff. he says, president obama seemingly is intent on pressing his post-election advatage to win tax increases on the wealthy and to eliminate the houses debt ceilg leveraged. joining us now from washington d.c., peter wallace, former reagan white house counsel, former memer of the financial crisis inquiry commission. a senior fellow at the american enterprise institute. good to have you here. you believe they're going over the cliff. >> i...
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the very least i think we would avoid big pieces of the fiscal cliff. thanks for joining us today. >> good to be with you. >> what will come from the closed door meeting between the president and speaker pain every wresh we'll talk with bill daley, former chief of staff for president obama. >>> an historic day for girls day worldwide. in honor of malala, the pakistani teen shot by the taliban. this is andrea mitchell on msnbc. sniffs ] i have a cold. [ sniffs ] i took dayquil but my nose is still runny. [ male announcer ] truth is, dayquil doesn't treat that. really? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ breathes deeply ] awesome. [ male announcer ] yes, it is. that's the cold truth! social security are just numbers thinkin a budget.d... well, we worked hard for those benefits. we earned them. and if washington tries to cram decisions about the future... of these programs into a last minute budget deal... we'll all pay the price. aarp is fighting to protect seniors with responsible... solutions that strengthen med
the very least i think we would avoid big pieces of the fiscal cliff. thanks for joining us today. >> good to be with you. >> what will come from the closed door meeting between the president and speaker pain every wresh we'll talk with bill daley, former chief of staff for president obama. >>> an historic day for girls day worldwide. in honor of malala, the pakistani teen shot by the taliban. this is andrea mitchell on msnbc. sniffs ] i have a cold. [ sniffs ] i took...
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Dec 10, 2012
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-called fiscal cliff. they recently spoke at an event hosted by the group campaign to fix the debt. first, you'll hear from senator portman whose remarks were interrupted by protesters calling for the protection of social security and medicare deficit reduction negotiations. this is about a half an hour. [inaudible conversations] >> morning. thank you all for joining us this morning. i'm maya macguineas, i am working with the campaign to fix the debt, and i'm the president for the committee for a responsible federal budget, and i'm really excited to join a phenomenal panel that we have with us today to help the campaign fix the debt which is, um, a large, nonpartisan coalition that is focused on helping members of congress come together to put in place a comprehensive debt deal. so i'm very delighted that today what we have is a diverse and very experienced, um, group of panelists to talk about two major topics; tax reform and health care reform. all in the context of how are we going to work together to put in place a plan that would be able to tackle the nation's fiscal challenges. we w
-called fiscal cliff. they recently spoke at an event hosted by the group campaign to fix the debt. first, you'll hear from senator portman whose remarks were interrupted by protesters calling for the protection of social security and medicare deficit reduction negotiations. this is about a half an hour. [inaudible conversations] >> morning. thank you all for joining us this morning. i'm maya macguineas, i am working with the campaign to fix the debt, and i'm the president for the...
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zero, fully clothed in this battle to avoid a fiscal cliff as we try to bring both sides together we have arizona senator john mccain, and maryland democratic congressman, and florida republican senator subrow, and connecticut independent senator, lieberman, and former debt co-chair and i could go on but i told you i take it upon myself to fix this mess as if i'm not busy enough thank you but i am looking after you and this country and if they cannot put together something, yours truly can and if i have to show up in spandex, i will. >> six weeks after losing their home they are being kicked out of their temporary one. it goes down this week. you wonder whether all of the high five's with the politicians commending fema had a clue. >> a big shout out to fema. they are a great partner. >> the president could not have appointed a better person. >> the administration, fema you have established when the call goes out the country is there to help their people. the "share t. get a great deal on a new subaru and 250 dollars goes to your choice of five charities. by the end of this, our fifth year, our total can reach almost 25 million dollars. it's a nice reflection on us all. now through january 2nd. get 0% apr financing for 36 months on a 2013 subaru forester an
zero, fully clothed in this battle to avoid a fiscal cliff as we try to bring both sides together we have arizona senator john mccain, and maryland democratic congressman, and florida republican senator subrow, and connecticut independent senator, lieberman, and former debt co-chair and i could go on but i told you i take it upon myself to fix this mess as if i'm not busy enough thank you but i am looking after you and this country and if they cannot put together something, yours truly can and...
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Dec 10, 2012
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CURRENT
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will head over the fiscal cliff. some lawmakers say that's not such a bad option. wedged also see a partial deal which would put off much of the negotiations until next year when congress tackles the debt ceiling. more than bill press coming up after the break when we are live in our chat room current.com/billpress. see you there. my masters degree was done completely online and that gave me the freedom and ability to do my education while i raised my kids and worked full time. raising my kids as a single mom and having them see me get my education online and work full-time has given them the opportunity to see that they can do anything that they want to. i'm currently the hospital administrator for two public hospitals. we serve patients who might not otherwise get care. i teach an online nursing program. i feel that i'm giving back something to the nurses that are attempting to get their bachelors degree like i did. doing online education is something that i suggest to many, many people. [ male announcer ] you like who you are... and you learned something along the way. this is the age of knowing what you're made of. so, why let erectile dysfunction get in your way? talk to your doctor about
will head over the fiscal cliff. some lawmakers say that's not such a bad option. wedged also see a partial deal which would put off much of the negotiations until next year when congress tackles the debt ceiling. more than bill press coming up after the break when we are live in our chat room current.com/billpress. see you there. my masters degree was done completely online and that gave me the freedom and ability to do my education while i raised my kids and worked full time. raising my kids...
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. avoiding the fiscal cliff is no excuse for republicans to replace this artificial crisis with another one. congress should pass the proposal to end periodic standoffs over the debt ceiling. this plan would give president obama the authority to avoid default over the nation's bills. democrats are ready to vote any time but first senator mcconnell needs to stop filibustering his own legislation rhode island now speaker boehner and minority leader mcconnell are the only thing standing between congress and compromise. it's time for them to prove to american families that they're more interested in protecting the medal class than pleasing the tea party. mr. president, on another subject, i rise to honor our colleague, the senior senator from nebraska, ben nelson, upon his retirement from the united states senate, to become effective after the first of the year. for 12 years senator nelson has been a valued member of the democratic caucus and an exemplary senator for nebraska and the country. but his life in public service leads back to his youth. he spent his college days serving his nebraska committee in another way, as a lay minister. but eventually he chose law over the m
. avoiding the fiscal cliff is no excuse for republicans to replace this artificial crisis with another one. congress should pass the proposal to end periodic standoffs over the debt ceiling. this plan would give president obama the authority to avoid default over the nation's bills. democrats are ready to vote any time but first senator mcconnell needs to stop filibustering his own legislation rhode island now speaker boehner and minority leader mcconnell are the only thing standing between...